PKN ORLEN and Grupa LOTOS agreed and signed a merger plan, which will be carried out by transferring the assets of Grupa LOTOS to PKN ORLEN. In exchange for the shares of Grupa LOTOS, the shareholders of the Gdańsk company will receive shares of the enlarged PKN ORLEN.

According to the merger plan, the shareholders of Grupa LOTOS will receive merger shares in the ratio: of 1.075 (PKN ORLEN shares): 1 (Grupa LOTOS shares). This means that in return for one share of Grupa LOTOS, its shareholders will receive 1,075 PKN ORLEN shares.

The prerequisite for the finalization of the transaction will be the consent in terms of the parity of exchange and other terms of the merger, expressed by the shareholders of both companies during the General Meetings.

“ORLEN treats Poland’s energy security and its impact on economic development as a priority. That is why we are creating a strong, integrated group with diversified revenues, resistant to extremely dynamic changes in the macroeconomic environment. As in the case of previous acquisitions carried out by the ORLEN Group, we intend to increase the value of the combined LOTOS Group by using the strengths of both companies”, said Daniel Obajtek, President of the Management Board of PKN ORLEN.

The combined company, created from the assets of PKN ORLEN, Energa Group, Grupa LOTOS and PGNiG, will be the largest company in Central and Eastern Europe, ready to face the challenges of energy transformation and implement the most ambitious investments.

By 2030, the combined group may become one of the largest integrated petrochemical producers in Europe. Another area of strategic development of the merged group will be the energy sector, including the implementation of investments in low- and zero-emission energy. According to the plans, the combined group will be a leader in renewable energy and low-emission gas energy and ultimately small nuclear energy.

Adrian Andrzejewski